Diabetes has become a silent killer and a major lifestyle disease that is affecting both the young and the aged. In the light of this fact, analysts at Transparency Market Research anticipate that the global diabetic neuropathy market is likely to rise at a CAGR of 5.4% during the forecast period of 2017 and 2025. The global market is likely to be worth US$5.718 bn by the end of 2024 from US$3.6 bn by the end of 2016. The phenomenal rise in the number of diabetics, increasing awareness about diabetic neuropathy, and poor disease management are expected to have a positive impact on the overall market in the coming years.

Q. What are the key drivers for the global diabetic neuropathy market?

A. According to the World Health Organization, registered number of diabetics were 422 in 2014 and the number is expected to witness a phenomenal rise in the coming years. Furthermore, commercialization of novel drugs, favorable supportive reimbursement policies, and improving affordability are all likely to have a positive impact on the global diabetic neuropathy market. The terrific investments in research and development of drugs and effective therapies are also expected to drive the global market in the near future.

On the bass of disorders, the global diabetic neuropathy market is segmented into focal neuropathy, peripheral neuropathy, proximal neuropathy, autonomic neuropathy. Of these, peripheral neuropathy will lead the pack in the coming years. This segment is expected to retain its dominant position, registering a CAGR of 5.7% between 2016 and 2024 as the incidence of diabetic neuropathy continues to be on the rise. The proximal neuropathy segment is expected to follow suit as it is the most commonly seen disorder amongst type 2 diabetics. Thus, this segment is anticipated to rise at a CAGR of 5.4% during the forecast period.

Q. Which region is anticipated to lead the global diabetic neuropathy market in the coming years?

A. Geographically, the global diabetic neuropathy market is segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. Of these, North America is likely to hold a major share in the global market. This regional market held a share of 34.9% in the global market in 2016. The growing pool of diabetic patients in the region and higher rate of awareness are expected to drive the North America diabetic neuropathy market in the coming years.

On the other hand, Asia Pacific is also expected to show a steady growth rate. The huge unmet demand, growing pool of diabetics, and increasing number of healthcare awareness programs are likely to support the regional market’s growth.

The market is witness fairly consolidated competition in the global diabetic neuropathy market. In the coming years, the competition is expected to intensify as several companies are likely to invest in research and development of effective drugs.